by Taxing Subjects | Oct 23, 2023 | Tax Tips and News
The Internal Revenue Service has given small business owners and others who may have unintentionally filed inaccurate claims for the Employee Retention Credit (ERC) a way to escape a portion of the monetary consequences for filing a bogus tax claim. The IRS has now...
by Taxing Subjects | Oct 10, 2023 | Tax Tips and News
As electric cars become more common on American roads, fully electric autos (termed “clean vehicles” by the Internal Revenue Service) are now showing up in the used car markets. Owners of new electric vehicles are already able to claim the Clean Vehicle Credit for...
by Taxing Subjects | Sep 27, 2023 | Tax Tips and News
Filing deadlines often change for taxpayers in regions that experience natural disasters. When these extreme weather events hit, the IRS frequently provides tax due date extensions. The relaxed due dates are intended to give more time to the individuals and business...
by Taxing Subjects | Sep 22, 2023 | Tax Tips and News
As of last week, the Internal Revenue Service (IRS) has taken decisive action to address concerns regarding the improper filing of Employee Retention Credit (ERC) claims, announcing a moratorium on new claims through at least the end of the year. This decision is...
by Taxing Subjects | Sep 15, 2023 | Tax Tips and News
The Internal Revenue Service says it’s about to move its main audit spotlight from the everyday working-class individual taxpayer to those engaged in high-income activities. Now on the audit radar: high-income earners, partnerships and large corporations, and...